I’ve avoided client board meetings for years because I enjoy neither the drama nor the bureaucracy, and the feeling of being beholden to so many people who disagree with each other — and sometimes with me — gives an unenviable feeling of being stuck in the middle.
However, I’ve recently come to realize that not attending board meetings does the client a disservice. As stated appropriately in this recent Accounting Web article:
There is a role for the CPA to play concerning the plans for certain agenda items the board may be considering and to properly document various decisions that have tax implications so they are part of the corporation’s tax records. Live attendance is encouraged, as your availability can only encourage questions and provide documented confirmation concerning tax planning.
Not only does attendance encourage questions, but the CPA can help boards determine which questions to ask, and to help teach them about financial literacy. It can also foster communication between management and the board when everyone is on the same page.
Your client is the entity, not the individual owners in this setting. If dissension should surface, “adviser” is the watchword, not “advocate.” The minority position could regard you as being allied with the majority, suggesting favoritism is at play more than professional regard for a given position or action. Make your positions clear, and by all means make a note to your file concerning any such discussion. Overall, participation in an annual meeting gives the practitioner an opportunity to shine. You will remind the client of your value to the entity.